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Revising earlier opinion...
Just did a quick check of KBB and they say 35k for a 120,000 mile car in excellent condition. If condition changes then drop price accordingly. Are there service records with the car? How many owners? If it is a 1 owner car with records, it may be reasonable. If there are no records and it has had multiple owners, I might be less enthusiastic to buy. Before you part with your money make sure you'll be happy with the car. Don't forget to get a PPI done at an independent shop. It will be the best 250 bucks you will spend.
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Tony G
10 Porsches come & gone!
1962 Morgan Plus 4 
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